The Global Automotive Battery Management System Market size is expected to reach $16.6 billion by 2030, rising at a market growth of 19.8% CAGR during the forecast period.
Continuous advancements in battery technology, particularly lithium-ion batteries, have improved energy density, faster charging, and longer battery life. Consequently, the lithium-ion segment would generate approximately 52.96% share of the market by 2030. BMS technology is indispensable in electric vehicles. Lithium-ion batteries offer an impressive combination of energy density and power, allowing for extended driving ranges and efficient energy utilization, which is critical in the rapidly growing electric vehicle (EV) segment. Additionally, their adaptability to various vehicle sizes and types, from compact cars to large SUVs, positions them as a versatile and scalable solution, cementing their status as the go-to choose for automakers striving to meet the evolving demands of the Automotive BMS market.
The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In August, 2023, Leclanché SA entered into partnership with Medha Group, a renowned provider of vehicle traction systems and associated electronics in Hyderabad, India. Within this partnership, Leclanché SA will supply its Li-ion battery pack solutions, including the INT-53 and INT-39 high-energy battery packs, to Medha for various projects involving railway auxiliary and maintenance vehicles. Additionally, In February, 2023, LG Energy Solutions joined forces with Freudenberg SE, a global supplier, manufacturer, and service partner for the automotive and general industry sectors. The partnership involves a multiyear agreement for the provision of lithium-ion battery cell modules. This collaboration enhances capacity and supply reliability for these vital markets.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations & Agreements.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Eberspächer Gruppe GmbH & Co. KG, Sensata Technologies Holding PLC, AVL List Gmbh, LG Energy Solution Ltd., Ficosa International S.A, Leclanché S.A, Nuvation Energy (Nuvation Research Corporation), Futavis Gmbh (Deutz AG), Toshiba Corporation, Elithion, Inc.
Continuous advancements in battery technology, particularly lithium-ion batteries, have improved energy density, faster charging, and longer battery life. Consequently, the lithium-ion segment would generate approximately 52.96% share of the market by 2030. BMS technology is indispensable in electric vehicles. Lithium-ion batteries offer an impressive combination of energy density and power, allowing for extended driving ranges and efficient energy utilization, which is critical in the rapidly growing electric vehicle (EV) segment. Additionally, their adaptability to various vehicle sizes and types, from compact cars to large SUVs, positions them as a versatile and scalable solution, cementing their status as the go-to choose for automakers striving to meet the evolving demands of the Automotive BMS market.
The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In August, 2023, Leclanché SA entered into partnership with Medha Group, a renowned provider of vehicle traction systems and associated electronics in Hyderabad, India. Within this partnership, Leclanché SA will supply its Li-ion battery pack solutions, including the INT-53 and INT-39 high-energy battery packs, to Medha for various projects involving railway auxiliary and maintenance vehicles. Additionally, In February, 2023, LG Energy Solutions joined forces with Freudenberg SE, a global supplier, manufacturer, and service partner for the automotive and general industry sectors. The partnership involves a multiyear agreement for the provision of lithium-ion battery cell modules. This collaboration enhances capacity and supply reliability for these vital markets.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal matrix; Toshiba Corporation and LG Energy Solutions are the forerunners in the Automotive Battery Managment System Market. In October, 2023, LG Energy Solution and Toyota North America, a division of Toyota Corporation responsible for U.S. vehicle sales, marketing, and distribution, have entered into a supply agreement. This collaboration entails the provision of lithium-ion battery modules by LG Energy Solution for Toyota's U.S.-assembled battery electric vehicles. Companies such as Sensata Technologies Holdings PLC., Futavis Gmbh, Leclanché S.A. are some of the key innovators in the Market.Market Growth Factors
Expansion of technological innovations
Innovations in battery chemistry, such as developing solid-state batteries and new lithium-ion variants, offer higher energy density, faster charging capabilities, and longer cycle life. BMS systems are adapting to manage and optimize these advanced battery chemistries. AI and machine learning are integrated into BMS technology to enable predictive maintenance, real-time diagnostics, and intelligent energy management. These innovations improve the accuracy of battery performance prediction and enhance safety. As BMS technology advances, it will play a pivotal role in electrifying vehicles and integrating energy storage solutions, expanding the market.Improved range and performance of batteries
BMS technology is essential for managing the energy stored in the battery pack efficiently. This optimization allows for increased range as it ensures that energy is used effectively, reducing energy wastage and maximizing the driving distance on a single charge. Regenerative braking and energy recapture systems are vital components of improving EV performance. BMS technology helps control and manage the recapturing and storing energy during braking, further extending the vehicle's range. BMS systems monitor the state of charge (SoC) of the battery in real time. BMS technology provides real-time data and feedback to drivers, helping them make informed decisions about driving habits and route planning to maximize range. The above factors will drive market growth.Market Restraining Factors
Complexity of various battery techniques
Various battery chemistries, including lithium-ion phosphate (LiFePO4), lithium-cobalt oxide (LiCoO2), lithium-manganese oxide (LiMn2O4), solid-state, and others, require tailored BMS strategies. Each chemistry has different voltage, temperature, and aging characteristics, making BMS design more intricate. Different battery chemistries have distinct voltage ranges and charge/discharge characteristics. BMS systems must be capable of managing these variations, ensuring safe and efficient operation. Battery technologies have varying thermal requirements. Ensuring robust cybersecurity measures is critical to protect against external threats that could compromise BMS performance and safety. The above factors will hamper the market growth.The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations & Agreements.
Application Outlook
On the basis of application, the market is segmented into passenger vehicles, commercial vehicles, and others. The commercial vehicles segment acquired a substantial revenue share in the market in 2022. The commercial vehicles segment primarily includes electric buses and electric trucks. In recent years, there has been a rise in the adoption of electric transportation. The economies worldwide have set their goals for net zero emissions, and countries worldwide are shifting to electric vehicles. One of the most important modes of urban commercial transportation worldwide is buses. Private enterprises, public authorities, and non-profit organizations increasingly utilize electric buses and carriages. In the coming years, the penetration of commercial vehicles is predicted to rise owing to the net zero emissions goals.Topology Outlook
Based on topology, the market is classified into modular, centralized, and distributed. In 2022, the modular segment generated the highest revenue share in the system market. Modular BMS designs allow for easy scalability. Additional modules can be added or removed to accommodate different battery pack sizes, chemistries, or configurations. This flexibility is especially beneficial in the EV market, where various vehicle models may require different battery sizes. Redundancy can be achieved through modular topology by having backup modules in place. In case of a module failure, a redundant module can take over to ensure continuous monitoring and management of the battery. The modular approach simplifies the integration of BMS components into a vehicle's architecture. Each module can have well-defined interfaces, making it easier to connect and communicate with other vehicle systems.Component Outlook
On the basis of components, the market is segmented into hardware and software. The software segment acquired a substantial revenue share in the market. The software component ensures the efficient and safe operation of battery packs in electric vehicles (EVs), hybrid vehicles, and other applications. BMS software is responsible for collecting, analyzing, and interpreting data from various sensors and hardware components, making real-time decisions, and providing information to vehicle operators and manufacturers. The software component in the market is integral in optimizing the performance, safety, and longevity of battery packs.Battery-Type Outlook
By battery type, the market is categorized into lithium-ion, lead-acid, and others. In 2022, the lithium-ion segment registered the largest revenue share in the market. Lithium-ion batteries are the standard choice for electric vehicles due to their exceptional energy density, power-to-weight ratio, and minimal self-discharge. However, ensuring their safety and durability requires precise oversight for the efficiency and security of the battery and the vehicle; hence, BMS plays a crucial role in the assembly of the automotive battery. BMS is indispensable for overseeing and controlling Li-ion battery performance in EVs, encompassing battery health, charge status, voltage, current, and environmental temperature. Therefore, a BMS is an essential enabling factor for the evolution of lithium-ion batteries.Regional Outlook
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The Europe region garnered a significant revenue share in the market in 2022. The emerging electric vehicle sector positively impacts the region's manufacturing of lithium-ion battery cells/packs and related components such as BMS. Europe also has a significant presence of automobile manufacturers. With the rising trend of e-mobility, a massive need for electric vehicle batteries in the region has been created. These factors drive the growth of the market in this region. Furthermore, the demand for automotive BMSs in this region is due to the presence of manufacturing aptitudes of major automotive manufacturers.The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Eberspächer Gruppe GmbH & Co. KG, Sensata Technologies Holding PLC, AVL List Gmbh, LG Energy Solution Ltd., Ficosa International S.A, Leclanché S.A, Nuvation Energy (Nuvation Research Corporation), Futavis Gmbh (Deutz AG), Toshiba Corporation, Elithion, Inc.
Strategies deployed in the Market
Partnerships, Collaborations & Agreements:
- Oct-2023: LG Energy Solution and Toyota North America, a division of Toyota Corporation responsible for U.S. vehicle sales, marketing, and distribution, have entered into a supply agreement. This collaboration entails the provision of lithium-ion battery modules by LG Energy Solution for Toyota's U.S.-assembled battery electric vehicles. Commencing in 2025, LG Energy Solution will supply automotive battery modules with an annual capacity of 20GWh, supporting Toyota's growing range of BEVs and a new BEV model to be manufactured at Toyota Motor Manufacturing Kentucky in 2025 as part of Toyota's multifaceted product strategy.
- Aug-2023: Nuvation Energy has entered into a strategic collaboration with Honeywell International, Ltd., a renowned engineering and technology company specializing in solutions across diverse sectors, encompassing energy, security, and safety. This partnership aims to integrate Nuvation Energy's expertise in battery management with Honeywell's advanced energy storage technology to develop highly efficient large-scale storage solutions that effectively address the critical needs of end-users.
- Feb-2023: LG Energy Solutions has joined forces with Freudenberg SE, a global supplier, manufacturer, and service partner for the automotive and general industry sectors. The partnership involves a multiyear agreement for the provision of lithium-ion battery cell modules. LG will support Freudenberg SE in expanding its production capabilities to meet the growing demand, ensuring a robust supply chain for its customers in commercial vehicle applications, particularly for trucks and buses in North America and Europe. This collaboration enhances capacity and supply reliability for these vital markets.
- June-2023: Leclanché SA entered into partnership with Medha Group, a renowned provider of vehicle traction systems and associated electronics in Hyderabad, India. Within this partnership, Leclanché SA will supply its Li-ion battery pack solutions, including the INT-53 and INT-39 high-energy battery packs, to Medha for various projects involving railway auxiliary and maintenance vehicles. This synergy between Medha's traction systems and electronics, coupled with Leclanché's advanced lithium-ion battery packs, will present a compelling solution for prominent train manufacturers and OEM commercial vehicle designers across three continents.
- Oct-2022: Toshiba India Private Limited, a subsidiary of Toshiba Corporation, has recently entered into a collaboration with EVage Automotive Private Limited, a prominent manufacturer of all-electric, custom-designed commercial vehicles. This partnership focuses on enhancing battery management systems (BMS) by integrating them into Honeywell's modular battery energy storage systems. The primary objective is to provide users with enhanced flexibility and a deeper understanding of battery performance, resulting in a more efficient and insightful energy storage solution.
- Sep-2021: Toshiba Corporation has entered into a collaborative agreement with Sojitz Corporation and CBMM, a globally diversified company involved in a wide range of business activities spanning across buying, selling, importing, exporting, and manufacturing both in Japan and abroad. Under this agreement, the two companies will join forces to jointly develop and bring to market the next-generation lithium-ion batteries. These batteries will feature niobium titanium oxide (NTO) as the anode material and are primarily aimed at applications within the commercial electric vehicle (e-vehicle) sector.
- Aug-2021: EVLO Energy Storage, Hydro-Québec's energy storage subsidiary, and Nuvation Energy, are teaming up through a reseller agreement for EVLO's energy storage systems. EVLO specializes in grid-scale energy storage systems based on Hydro-Québec's patented lithium iron phosphate (LFP) battery chemistry while Nuvation Energy provides battery management systems and energy storage engineering services to battery manufacturers and energy storage system developers.
Product Launches and Product Expansions:
- May-2023: Sensata Technologies, a prominent industrial technology company specializing in sensors and solutions, has introduced the C-BMS24X, a compact Battery Management System designed to meet the evolving requirements of industrial applications, low voltage electric vehicles, and energy storage systems. The C-BMS24X facilitates the parallel connection of up to 10 battery packs, making it easy to swap depleted batteries with fully charged ones. It offers advanced balancing and user-friendly BMS-controlled features, enhancing overall convenience.
- Oct-2022: Sensata Technologies has unveiled the n3-BMS, a novel battery management system tailored for high-voltage applications with lithium balance. This innovation caters to power levels up to 1000 volts/2000 amps, catering to battery manufacturers, electric trucks, and bus makers. It allows customers to customize the system with code and algorithms without compromising ASIL C Certification, potentially reducing development time and costs.
- Jan-2022: Toshiba Electronics Europe, a division of Toshiba Corporation, has introduced the TLX9160T, a new photorelay with a normally open (NO) 1-Form-A configuration. This photorelay boasts a robust output withstand voltage (VOFF) of at least 1500V and can function at supply voltages (VDD) of up to 1000V. Housed in a SO16L-T package made from resin material compliant with IEC60664-1 material group I, it features a maximum forward current (IF) of 30mA and an On-state current (ION) of 50mA.
- 2021-Nov: Sensata Technologies, Inc. has introduced the i-BMS, a cutting-edge Battery Management System (BMS) tailored for electrified applications with a voltage range of up to 60V. This innovative BMS is designed to be compatible with various cell chemistries, offering a versatile and compact integrated solution. It has been developed with a focus on achieving cost efficiency, making it ideal for large-scale, cost-optimized production of applications operating within the 60V voltage range.
Acquisition and Mergers:
- Mar-2023: Eberspächer has acquired a majority stake in Vecture, Inc., a company specializing in battery protection circuitry for battery pack assembly and electronic manufacturing services. This move strengthens Eberspacher's presence in the automotive control division by leveraging Vecture's expertise in critical battery management systems and energy storage solutions. It enhances Eberspacher's vehicle electronics portfolio and positions them to tap into the fast-growing energy storage market.
- Feb-2022: LG Energy Solutions has acquired NEC Energy Solutions, a subsidiary of NEC Corporation, a leading U.S.-based grid battery integrator. This strategic move enables LG to broaden its Energy Storage System (ESS) portfolio, focusing on providing comprehensive integrated AC and DC storage solutions. LG aims to enhance its services with customized operational support, encompassing equipment installation, remote monitoring, and scheduled maintenance, meeting the unique requirements of its clients while strengthening its position in the energy storage market.
- Feb-2021: Sensata Technologies has completed the acquisition of Lithium Balance A/S, a company specializing in advanced battery pack monitoring. This strategic move enhances Sensata's electrification business and clean energy market strategy while expanding its portfolio to provide battery management solutions for various vehicle OEMs. The acquisition allows Sensata to offer comprehensive battery management solutions across a diverse range of electrification applications in industrial and transport markets, further solidifying its position in the industry.
Scope of the Study
Market Segments Covered in the Report:
By Component- Hardware
- Software
- Lithium-ion
- Lead-acid
- Others
- Passenger Vehicles
- Commercial Vehicles
- Others
- Modular
- Centralized
- Distributed
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Eberspächer Gruppe GmbH & Co. KG
- Sensata Technologies Holding PLC
- AVL List Gmbh
- LG Energy Solution Ltd.
- Ficosa International S.A
- Leclanché S.A
- Nuvation Energy
- Futavis Gmbh
- Toshiba Corporation
- Elithion, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Automotive Battery Management System Market by Component
Chapter 6. Global Automotive Battery Management System Market by Battery Type
Chapter 7. Global Automotive Battery Management System Market by Application
Chapter 8. Global Automotive Battery Management System Market by Topology
Chapter 9. Global Automotive Battery Management System Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- Eberspächer Gruppe GmbH & Co. KG
- Sensata Technologies Holding PLC
- AVL List Gmbh
- LG Energy Solution Ltd.
- Ficosa International S.A
- Leclanché S.A
- Nuvation Energy (Nuvation Research Corporation)
- Futavis Gmbh (Deutz AG)
- Toshiba Corporation
- Elithion, Inc.
Methodology
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